CSX (NASDAQ:CSX) Price Target Raised to $53.00

Key Points

• Robert W. Baird raised its price target on CSX from $49 to $53 and kept an outperform rating, implying about 8.6% upside from the prior close.
• Other analysts have also been adjusting views on the railroad operator, with targets ranging from $32 to $53; overall, CSX now has a Moderate Buy consensus and an average price target of $47.42.
• CSX shares were down 0.2% to $48.81, while the company recently reported better-than-expected earnings of $0.43 per share on revenue of $3.48 billion.

CSX (NASDAQ:CSX - Get Free Report) had its target price raised by investment analysts at Robert W. Baird from $49.00 to $53.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the transportation company's stock. Robert W. Baird's target price would suggest a potential upside of 8.58% from the company's previous close.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the company an "underweight" rating in a report on Monday. The Goldman Sachs Group restated a "neutral" rating and set a $41.00 target price (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Argus lifted their price target on CSX from $42.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Citigroup reaffirmed a "neutral" rating and issued a $46.00 price target (up from $44.00) on shares of CSX in a report on Thursday, April 23rd. Finally, Bank of America reiterated a "buy" rating and set a $53.00 price target (up from $51.00) on shares of CSX in a research report on Wednesday, June 17th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.42.

CSX Trading Down 0.2%

CSX stock opened at $48.81 on Tuesday. The firm has a market cap of $90.70 billion, a PE ratio of 29.94, a P/E/G ratio of 2.44 and a beta of 1.21. CSX has a 12 month low of $31.80 and a 12 month high of $49.29. The stock's 50 day simple moving average is $46.23 and its two-hundred day simple moving average is $41.77. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business's quarterly revenue was up 1.7% on a year-over-year basis. Analysts anticipate that CSX will post 1.9 earnings per share for the current year.

Insider Transactions at CSX

In other CSX news, Director John J. Zillmer sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin S. Boone sold 136,708 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC boosted its stake in CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company's stock worth $25,000 after purchasing an additional 586 shares during the last quarter. WFA of San Diego LLC acquired a new stake in shares of CSX in the second quarter valued at about $28,000. Wilkerson Advisory Group LLC lifted its stake in shares of CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company's stock worth $34,000 after buying an additional 409 shares in the last quarter. CrossGen Wealth LLC purchased a new position in shares of CSX in the fourth quarter worth about $54,000. Finally, Aventura Private Wealth LLC acquired a new position in CSX during the fourth quarter worth about $63,000. 73.57% of the stock is owned by institutional investors and hedge funds.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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